Income Tax Form 16 Calculator – New Pay Commission Updates

INCOME TAX FORM 16 CALCULATOR FOR GOVERNMENT EMPLOYEES AY 2017-18: TDS certificate form 16: Form 16 is the certificate of deduction of tax at source and issued on deduction of tax by the employer on behalf of the employees.

These certificates provide details of TDS / TCS for various transactions between deductor and deductee. It is mandatory to issue these certificates to Tax Payers.

INCOME TAX FORM 16 CALCULATOR FOR GOVERNMENT EMPLOYEES
(Certificate u/s 203 of the Income Tax Act 1961 for Tax Deducted at Source on Salary)

Details of Salary Paid & Other Income and Tax Deducted Amount (in Rs.)

1 Gross Salary

2 Less:Allowance to the extent exempt u/s 10

3 Balance (1-2)

4 Deduction:

(a)Entertainment Allowance

(b)Tax on Employment

5 Aggregate of 4 (a) & (b)

6 Income chargeable under the Head Salaries (3-5)

7 Add:Other Income reported by the Employee

(a) Income/Loss from House Property

(b)Income from other sources

8 Gross Total Income (6+7)

9 Deductions Under Chapter VI-A(80C, 80CCC & 80CCD) (Max.1,50,000)

GPF

CGEGIS

LIC

Tuition Fees

PLI

NSC

HBA Principal

PPF

ULIP

Pension Fund

IDBI/ICICI/Other Savings

Contribution to DCPS

Medical Insurance

Physically Handicapped Relif

CONTRIBUTION TO PM/CM R.FUND

PHYSICALLY HANDICAPPED SELF

10 Aggregate of Deductable Amount Chapter VI-A

11 Total Taxable Income (8-10)

10% ()

20% ()

30% ()

12 Tax on Total Income

13 Rebate U/C 87A

14 Net Taxable Income

15 Surcharge

16 Educational Cess 3%

17 Tax Payable

INCOME TAX CALCULATOR – PRE & POST BUDGET 2017

[Note: All the figures are indicative]

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